Grant of Share Options

Audioboom Group PLC

30 April 2024

 

30 April 2024

Audioboom Group plc

("Audioboom" or the "Company")

Grant of share options

The Board ("Board") of Audioboom (AIM: BOOM), the leading global podcast company, announces that it has today granted the following options to subscribe for new ordinary shares in the Company ("Options") to certain of its directors:

Director	Position	Options granted	Exercise price*	Total options now held**
Stuart Last	Chief Executive Officer	60,000	240p	355,334
Brad Clarke	Chief Financial Officer	60,000	240p	313,334

*derived from the latest 5 day volume weighted average price (VWAP) for an ordinary share

**both directors have agreed with the Company to forfeit and cancel 60,000 options previously granted with an exercise price of £15.55 per share.  In addition, both directors have forfeited 16,666 previously granted options following non-fulfilment of attached performance conditions (relating to meeting initial market expectations as to revenue and EBITDA for the year ended 31 December 2023)

The grants have been made pursuant to the Company's share option scheme which was adopted on 19 May 2014 (the "Scheme").  The Options may vest and become exercisable over a three-year period, subject (in respect of 50% of the Options) to the satisfaction of performance conditions relating to how the Company performs by reference to its internal budgets and external market expectations in each of the financial periods ending 31 December 2024, 31 December 2025 and 31 December 2026.  They may also vest in certain other prescribed circumstances as provided for in the terms of the Scheme.

The Board has also granted 346,157 options to non-PDMR employees, largely in replacement of 271,157 options that were previously granted at an exercise price of £15.55 per share which have now been forfeited and cancelled. 

Following the above grant of Options, the Company has a total of 1,706,118 options to subscribe for new ordinary shares in the Company outstanding, which represents approximately 10.4 per cent. of the Company's issued share capital.

The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.

Enquiries

Audioboom Group plc
Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer	Tel: [phone]
Cavendish Capital Markets Ltd (Nominated Adviser and Broker)
Jonny Franklin-Adams/Abigail Kelly/Rory Sale (Corporate Finance) Harriet Ward (ECM)	Tel: [phone]

About Audioboom

Audioboom is a global leader in podcasting - our shows are downloaded more than 135 million times each month by 38 million unique listeners around the world. Audioboom is ranked as the fourth largest podcast publisher in the US by Triton Digital.

Audioboom's ad-tech and monetisation platform underpins a scalable content business that provides commercial, distribution, marketing and production services for a premium network of top tier podcasts. Key partners include the official Formula 1 podcasts 'F1: Beyond the Grid' and 'F1 Nation', 'Casefile True Crime' (US), 'True Crime Obsessed' (US), 'The Tim Dillon Show' (US), 'No Such Thing As A Fish' (UK) and 'The Cycling Podcast' (UK).

Audioboom operates internationally, with global partnerships across North America, Europe, Asia and Australia. The platform distributes content via Apple Podcasts, YouTube, Spotify, Pandora, Amazon Music, Google Podcasts, iHeartRadio, Facebook and Twitter as well as a partner's own websites and mobile apps.  

For more information, visit audioboom.com.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stuart Last
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Audioboom Group plc
b)	LEI	213800QO681575J97813
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Options to subscribe for Ordinary Shares of no par value
	Identification code	ISIN: JE00BJYJFG60
b)	Nature of the transaction	Grant of options to subscribe for Ordinary Shares of no par value
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of £2.40 per share 60,000
d)	Aggregated information: ·Aggregated volume ·Price	N/A
e)	Date of the transaction	30 April 2024
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Brad Clarke
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Audioboom Group plc
b)	LEI	213800QO681575J97813
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Options to subscribe for Ordinary Shares of no par value
	Identification code	ISIN: JE00BJYJFG60
b)	Nature of the transaction	Grant of options to subscribe for Ordinary Shares of no par value
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of £2.40 per share 60,000
d)	Aggregated information: ·Aggregated volume ·Price	N/A
e)	Date of the transaction	30 April 2024
f)	Place of the transaction	Outside a trading venue

 

END